CFO – INDEPENDENT POWER PRODUCER
To find a CFO for an independent power producer (IPP), owned by a private equity vehicle and aimed at developing early-stage power-generating assets across Sub-Saharan Africa.
Given the political sensitivities surrounding the power sector, the search was hard to position. In addition, the role required an individual with both greenfield power-development experience and very early stage project finance experience. Our client’s firm mandate for impact investing necessitated gender and nationality diversity of candidates, with an emphasis on the Sub-Saharan diaspora.
Understanding the profile of our client from the outset enabled us very quickly to identify suitable candidates. In our estimation the government-owned power providers across Africa would not provide candidates with relevant experience, so we investigated companies with emerging markets operating presence which developed the assets themselves and put power purchasing agreements (PPAs) in place.
Candidate sourcing was further facilitated via our large network across project finance and more broadly debt, particularly mining & metals, oil & gas, infrastructure and power. Based on Riverhouse’s 20+ years of emerging and frontier markets experience, we were also able to identify internationally mobile candidates from frontier market regions. As a result of our comprehensive research approach, we were able to produce a highly relevant shortlist showing gender and African diaspora diversity. The search concluded with a successful placement.